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☆ Ripple CEO predicts crypto market will double in size to $5 trillion by the end of 2024
▼ + stars: | 2024-04-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Mike Blake | ReutersThe CEO of blockchain startup Ripple sees the combined market capitalization of the cryptocurrency market topping $5 trillion this year. If the market were to double, that would imply a new total crypto market cap of $5.2 trillion. Bitcoin accounts for about 49% of the entire crypto market, with a market capitalization of $1.3 trillion as of April 1. This year being an election year, crypto hopefuls are optimistic that the next administration will be more accommodating to the crypto industry with its policy focus. Garlinghouse isnt the only crypto bull predicting outsized gains for the crypto market this year.

Persons: Brad Garlinghouse, Mike Blake, Ripple's Brad Garlinghouse, I've, Garlinghouse, Gary Gensler, Ripple, Marshall Beard, there's, Beard, Anthony Pompliano Organizations: Milken, Global Conference, CNBC, U.S . Securities, Exchange Commission, SEC Locations: Beverly Hills , California, U.S, United States, London

☆ Ripple to launch U.S. dollar stablecoin, taking on a $150 billion market dominated by Tether, Circle
▼ + stars: | 2024-04-04 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

Jakub Porzycki | Nurphoto | Getty ImagesCrypto startup Ripple is the latest major player to jump into the $150 billion stablecoin market with the launch of a digital currency pegged to the U.S. dollar. The move would pit Ripple against stablecoin giants like Tether, which is behind the largest stablecoin UDST, and USDC issuer Circle. Payments giant PayPal , meanwhile, launched its own U.S. dollar stablecoin called PayPal USD, a stablecoin backed by U.S. dollars and dollar equivalents that is issued by crypto firm Paxos. watch nowTether is the market leader for stablecoins with a market capitalization of $106.3 billion, according to CoinGecko data. "In fact, the number one request we get from the XRP community is to launch a USD-backed stablecoin on the XRP Ledger."

Persons: Jakub Porzycki, Brad Garlinghouse, he's, Garlinghouse, Tether's, USDT, USDC, MoneyGram Organizations: U.S, SEC, Nurphoto, Getty, U.S ., PayPal, CNBC, Bank, FinCEN, Santander, U.S . Securities, Exchange Commission, Southern, of Locations: U.S, Europe, Asia, New York, Ireland, Singapore, of New York

☆ Crypto firm Ripple explored IPO outside of U.S. because of 'hostile' SEC, won't go public soon
▼ + stars: | 2024-01-17 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

In this article XRP.CM= Follow your favorite stocks CREATE FREE ACCOUNTwatch nowDAVOS, Switzerland — Ripple explored markets outside the U.S. for its initial public offering, CEO Brad Garlinghouse told CNBC, blaming a "hostile" regulator. However, the firm has put any plans for an IPO on hold for now, Garlinghouse said. Garlinghouse told CNBC in 2022 that Ripple, the company behind the cryptocurrency XRP , will explore a public listing after its lawsuit with the U.S. Securities and Exchange Commission ends. The Ripple CEO said his company has not gone public in the U.S. yet because of the SEC's actions. The SEC sued Coinbase last year alleging that the company was acting as an unregistered broker and exchange.

Persons: Brad Garlinghouse, Garlinghouse, Coinbase, Gary Gensler Organizations: CNBC, U.S . Securities, Exchange Commission, Economic, SEC, U.S Locations: DAVOS, Switzerland, Davos, U.S, United States

☆ Ripple CEO calls U.S. SEC Chair Gary Gensler a 'political liability' over lawsuit
▼ + stars: | 2024-01-16 | by ( Ryan Browne | ) www.cnbc.com time to read: 1 min

Brad Garlinghouse, chief executive officer of Ripple Labs Inc., speaks during the Token2049 conference in Singapore, on Wednesday, Sept. 13, 2023. Ripple CEO Brad Garlinghouse fired off criticism at U.S. Securities and Exchange Commission Chairman Gary Gensler on Tuesday, calling the SEC chief a "political liability" amid an ongoing lawsuit. The crypto startup is fighting the SEC over allegations that the firm and its executives illegally sold XRP tokens in unregistered securities sales. A case against Garlinghouse and fellow executive Chris Larsen was dismissed in October. The SEC did not immediately respond to a CNBC request for comment.

Persons: Brad Garlinghouse, Gary Gensler, Garlinghouse, Chris Larsen Organizations: Ripple Labs Inc, U.S . Securities, Exchange, SEC, CNBC Locations: Singapore

☆ Ripple CEO says SEC has lost sight of mission to protect investors
▼ + stars: | 2023-11-11 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The CEO of blockchain company Ripple has some strong words for the U.S. Securities and Exchange Commission. Brad Garlinghouse told CNBC's Dan Murphy at the company's Ripple Swell conference in Dubai that he thinks the agency has lost sight of one of its key tasks as a regulator. "I think the SEC, in my opinion, has lost sight of their mission to protect investors. The SEC in 2020 accused Ripple and its executives of conducting a $1.3 billion securities fraud via sales of XRP to retail investors. Then, in October, the SEC dropped its securities law violation charges against Garlinghouse and Ripple executive Chris Larsen.

Persons: Brad Garlinghouse, CNBC's Dan Murphy, Garlinghouse, Ripple, Chris Larsen, Chris, Brad Organizations: U.S . Securities, Exchange Commission, SEC, CNBC Locations: Dubai, United States

☆ The SEC has lost sight of its mission to protect investors, Ripple CEO says
▼ + stars: | 2023-11-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe SEC has lost sight of its mission to protect investors, Ripple CEO saysBrad Garlinghouse, Ripple CEO, says the U.S. Securities and Exchange Commission "is doing the same thing over and over again, and they think, I guess, they're going to get a different outcome."

Persons: Brad Garlinghouse Organizations: SEC, Ripple, U.S . Securities, Exchange

☆ Ripple CEO Brad Garlinghouse at Ripple Swell Dubai | CNBC International
▼ + stars: | 2023-11-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRipple CEO Brad Garlinghouse at Ripple Swell Dubai | CNBC InternationalCNBC’s Dan Murphy speaks to Ripple CEO Brad Garlinghouse about the U.S. Securities and Exchange Commission case, the long-term impact of FTX's collapse, and what’s next for crypto markets.

Persons: Brad Garlinghouse, Dan Murphy, what’s Organizations: Ripple, Dubai, CNBC, U.S . Securities, Exchange Commission

☆ We need regulatory clarity, Ripple CEO says
▼ + stars: | 2023-11-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe need regulatory clarity, Ripple CEO saysBrad Garlinghouse, Ripple CEO, says "macro, exponential forces [will] continue to catapult this industry."

Persons: Brad Garlinghouse

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailXRP rises after SEC drops claims against Ripple Labs executives: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Stu Alderoty, chief legal officer at Ripple, discusses the SEC's decision to drop its lawsuit against two Ripple Labs executives, Brad Garlinghouse and Chris Larsen.

Persons: explainers, Stu Alderoty, Brad Garlinghouse, Chris Larsen Organizations: SEC, Ripple Labs, CNBC Crypto, CNBC

☆ SEC Retreats From High-Stakes Lawsuit Over XRP Cryptocurrency
▼ + stars: | 2023-10-19 | by ( Dave Michaels | ) www.wsj.com time to read: 1 min

Attendees visit the Ripple Labs booth at the Blockchain Week Summit in Paris in March. Photo: Benjamin Girette/Bloomberg NewsWASHINGTON—The Securities and Exchange Commission on Thursday said it would drop its lawsuit against two cryptocurrency executives who oversaw $1.5 billion in sales of a digital coin known as XRP, in a move that boosts the industry’s battle against traditional regulation. The dismissal of civil claims against Brad Garlinghouse and Chris Larsen , who were sued for assisting Ripple Labs’s sales, will likely encourage wealthy crypto defendants to fight regulators in court. At the same time, the SEC’s withdrawal from the case preserves its resources for bigger lawsuits it has filed against crypto giants Coinbase and Binance.

Persons: Benjamin Girette, Brad Garlinghouse, Chris Larsen Organizations: Bloomberg News WASHINGTON, The Securities, Exchange Commission, Ripple Locations: Paris

The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. In its December 2020 lawsuit, the SEC accused Ripple of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. U.S. District Judge Analisa Torres in Manhattan granted Ripple a partial win in the case in July, finding that sales of XRP on public exchanges were not unregistered securities offerings. The SEC's claims against Garlinghouse and Larsen over their role in those sales were to be tried before a jury. Torres' July ruling against the SEC was a rare setback in the regulator's long-runnning crackdown on the industry.

Persons: Andrew Kelly, Brad Garlinghouse, Chris Larsen, Ripple, Analisa Torres, Torres, Garlinghouse, Larsen, Sam Bankman, Gary Gensler, Gensler, Jody Godoy, David Gregorio Our Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Ripple Labs, SEC, District, Binance, Industry, Thomson Locations: Washington ,, New York, . U.S, Manhattan, America, U.S

☆ US SEC cannot appeal Ripple Labs decision, judge rules
▼ + stars: | 2023-10-04 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

FILE PHOTO: A representation of cryptocurrency Ripple is seen in this illustration taken August 6, 2021. Torres said Rakoff had been considering Terraform’s motion to dismiss the SEC case, and was required to accept all reasonable inferences in the regulator’s favor. A trial in the Ripple case is scheduled for April 23, 2024. In its December 2020 lawsuit, the SEC accused Ripple of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. The case is SEC v Ripple Labs Inc et al, U.S. District Court, Southern District of New York, No.

Persons: Dado Ruvic, Analisa Torres, Torres, Jed Rakoff, Rakoff, Brad Garlinghouse, Chris Larsen, Ripple Organizations: YORK, U.S . Securities, Exchange Commission, Ripple Labs, REUTERS, District, SEC, U.S, Terra, Binance, Court, Southern District of Locations: Manhattan, U.S, Southern District, Southern District of New York

☆ Ripple obtains full license to operate in Singapore as it expands in Asia-Pacific
▼ + stars: | 2023-10-03 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Brad Garlinghouse, chief executive officer of Ripple Labs Inc., speaks during the Token2049 conference in Singapore, on Wednesday, Sept. 13, 2023. Cryptocurrency company Ripple said on Wednesday that it has obtained a major payments institution license in Singapore, a strategic step toward growing its presence in the Asia-Pacific region. With the full license, Ripple will continue to provide regulated crypto payment services in Singapore. Ripple said it will continue to prioritize the region for adoption of its crypto payment services. The country's Payment Services Act — which regulates payment services and the provision of crypto services to the public — has been in effect since January 2020.

Persons: Brad Garlinghouse, Ripple, Monica Long, headcount Organizations: Ripple Labs Inc, Monetary Authority of, CNBC Locations: Singapore, Asia, Pacific, Monetary Authority of Singapore, U.S

☆ Ripple buys crypto infrastructure startup in its second acquisition of 2023
▼ + stars: | 2023-09-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Founded in 2021 by Scott Purcell, an entrepreneur with a background in equity and debt crowdfunding, Fortress Trust aims to help large enterprises interact with digital currencies. The company uses a blockchain-based messaging system, akin to SWIFT, to approve speedy transactions between a network of banks and other financial institutions. A Ripple spokesperson declined to comment on the size of the deal but said that it is less than the sum Ripple paid to buy Metaco. Ripple also obtained a Nevada trust with its acquisition of Fortress Trust, adding to its growing list of regulatory permits globally. The company told CNBC previously it was also looking to get an e-money license with the Irish central bank.

Persons: Brad Garlinghouse, Ripple, Scott Purcell, Purcell, BitGo, SWIFT, Britain's, Singapore's, XRP, Stu Alderoty Organizations: Trust, Prime Trust, SBI, U.S . Securities, Exchange Commission, MoneyGram, CNBC, Monetary Authority of, Fortress Trust Locations: Austin , Texas, Nevada, U.S, Swiss, Fortress Trust's, York, New York, Monetary Authority of Singapore, Irish

☆ Asia promotes crypto clarity amid regulatory uncertainty in the U.S.
▼ + stars: | 2023-08-17 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Earlier this month, Hong Kong officially opened crypto trading to retail investors and upgraded licenses of two exchanges. "This will further boost investor confidence, making Hong Kong more attractive as a potential global virtual asset hub," said Lai. He concluded some crypto firms could leave the U.S. for more progressive jurisdictions as a result. Asia's regulatory clarityAcross the Pacific, Singapore and Hong Kong offer far more operational clarity for many industry players "Singapore has the first mover advantage in the Asia Pacific region, including being ahead of Hong Kong. watch nowSingapore's Payment Services Act — a framework for regulating payment services and the provision of crypto services to the public — came into effect in January 2020.

Persons: Ben Charoenwong, Lennix Lai, Lai, Ong Chengyi, Chainalysis, Hong, Blockchain.com, Ripple, Hong Kong, Janice Goh, Coinbase, Binance, Brad Garlinghouse, Goh Organizations: Getty, Nurphoto, National University of Singapore Business School, Monetary Authority of, Cavenagh, U.S . Securities, Exchange Commission, SEC, CNBC, MAS Locations: Victoria Harbour, Hong Kong, China, Asia, U.S, Hong Kong . Hong Kong, Singapore, Monetary Authority of Singapore, Thailand, Indonesia, Hong, Pacific

REUTERS/Andrew Kelly/File PhotoNEW YORK, Aug 9 (Reuters) - The U.S. Securities and Exchange Commission plans to appeal a recent court decision involving Ripple Labs that was a setback for the agency's efforts to oversee cryptocurrency markets. The SEC said an appeal could address legal issues on which there was "substantial ground for differences of opinion." Torres' decision was not a total victory for Ripple, as she found that it violated securities laws by selling XRP to institutional investors. The judge must decide whether to let the SEC appeal her decision, and put the case on hold. Ripple, and lawyers for Ripple, Garlinghouse and Larsen did not immediately respond to requests for comment.

Persons: Andrew Kelly, Analisa Torres, Ripple, Brad Garlinghouse, Chris Larsen, Torres, Jed Rakoff, Larsen, Gary Gensler, Coinbase, Jonathan Stempel, Chris Prentice, Jody Godoy, Chris Reese, Lisa Shumaker, Diane Craft Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Ripple Labs, SEC, U.S, District, Terra, Terraform Labs, Thomson Locations: Washington ,, Manhattan, U.S, Gensler, New York

☆ Ripple CEO Brad Garlinghouse: This crypto ruling puts the SEC in check 'in a good way'
▼ + stars: | 2023-07-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRipple CEO Brad Garlinghouse: This crypto ruling puts the SEC in check 'in a good way'Ripple CEO Brad Garlinghouse joins CNBC's Kate Rooney and 'The Exchange' to discuss the federal judge's ruling that XRP is a 'digital token, not a contract, transaction or scheme.'

Persons: Brad Garlinghouse, Kate Rooney Organizations: SEC

In this photo illustration, a visual representation of the digital Cryptocurrency Ripple is displayed on January 30, 2018 in Paris, France. Ripple's XRP token went up 68% in the last 24 hours, leading a wider rally of major-cap altcoins, as crypto traders digest a key ruling that could stifle U.S. regulator efforts to stamp out digital asset trading. All four tokens were recently singled out as securities in the U.S. Securities and Exchange Commission's formal suits against popular crypto retail trading exchanges, including Binance and Coinbase . But the Thursday summary judgement from U.S. District Judge Analisa Torres calls that classification into question. Ripple maintained that its token is not a security — triggering ongoing confusion over which digital coins fall into which regulatory bucket.

Persons: Ripple's, Algorand's, Analisa Torres, Brad Garlinghouse, Renato Mariotti, Bryan Cave Leighton Organizations: U.S . Securities, Exchange, District, SEC, Labs, San, U.S . Southern, of New, U.S . Justice Department's Securities, Commodities Locations: Paris, France, San Francisco, U.S, of New York, Chicago

CompaniesLaw Firms Ripple Labs Inc FollowCoinbase Global Inc FollowJuly 13 (Reuters) - Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges, a U.S. judge ruled on Thursday, a landmark legal victory for the cryptocurrency industry that sent the value of XRP soaring. An SEC spokesperson said the agency was pleased with part of the ruling in which the judge held that Ripple violated federal securities law by selling XRP directly to sophisticated investors. XRP sales on cryptocurrency platforms by Garlinghouse and co-founder and former CEO Chris Larsen, and other distributions including compensation to employees also did not involve securities, Torres ruled. PARTIAL WIN FOR THE SECThe SEC won a partial victory as Torres found the company's $728.9 million of XRP sales to hedge funds and other sophisticated buyers amounted to unregistered sales of securities. Both the Ripple and Coinbase cases focus on registration requirements and whether certain digital assets are securities under U.S. law.

Persons: XRP, Analisa Torres, Brad Garlinghouse, We’ve, Torres, Paul Grewal, Chris Larsen, Garlinghouse, Larsen, Gary DeWaal, Rosenman, Tom Emmer, Jody Godoy, Chris Prentice, Tom Hals, Chizu Nomiyama, Conor Humphries, Leslie Adler, David Gregorio Our Organizations: Labs, Ripple Labs, U.S, District, U.S . Securities, Exchange Commission, SEC, Twitter, Supreme, WIN FOR, Republican, Thomson Locations: U.S, XRP, Katten, New York, Wilmington , Delaware

☆ XRP soars 61% after a judge says the cryptocurrency is not a security in a big win over the SEC
▼ + stars: | 2023-07-13 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

XRP soared as much as 61% on Thursday after a US judge said certain aspects of the sale of the token did not break federal securities laws. The SEC had sued Ripple for the sale of its XRP token in 2020 for the failure to register XRP as a security. US District Judge for the Southern District of New York Analisa Torres said the XRP token is "not necessarily a security on its face." But there are multiple facets of the ruling and it gets complicated depending on the type of sale of XRP. A motion for summary judgement filed by the SEC in its "aiding and abetting" allegations against Garlinghouse and Larsen was denied.

Persons: Brad Garlinghouse, Christian Larsen, of New York Analisa Torres, Torres, Garlinghouse, Larsen, bitcoin Organizations: SEC, Service, US, Southern, of, of New York, Twitter Locations: Wall, Silicon, of New

☆ Crypto firm Ripple gets in-principle payments license in Singapore
▼ + stars: | 2023-06-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Blockchain company Ripple said Thursday it received in-principle regulatory approval to operate in Singapore, in a rare moment of good news for the cryptocurrency industry globally as it faces tightening policy back home in the United States. Ripple said that it was granted in-principle approval of a Major Payment Institution Licence from the Monetary Authority of Singapore, the country's central bank. But Ripple also operates a blockchain-based international messaging system called RippleNet to facilitate massive transfers of funds between banks and other financial institutions, similar to the global interbank messaging system SWIFT. Ripple denies the SEC allegations, contending that XRP is a currency rather than a security that would be subject to strict rules. Singapore is one of the largest currency corridors from which Ripple sends money across borders using XRP, the company said in a press release.

Persons: Brad Garlinghouse, Ripple, Christian Larsen Organizations: Monetary Authority of, The Securities, Exchange Commission, SEC Locations: Austin , Texas, Singapore, United States, Monetary Authority of Singapore, San Francisco, XRP

☆ U.S. has made crypto rules 'as confusing as possible,' says Ripple
▼ + stars: | 2023-05-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. has made crypto rules 'as confusing as possible,' says RippleBrad Garlinghouse of the cryptocurrency company says that's why "entrepreneurship and investment [are] flowing into other jurisdictions," describing Europe as a "significant beneficiary" of the confusion in the United States.

☆ Ripple CEO says more crypto firms may leave U.S. due to 'confusing' rules
▼ + stars: | 2023-05-18 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

watch now"Confusing" regulations in the U.S. will push more crypto companies to leave the U.S. as firms like Ripple look to hire and invest outside the country, the CEO of blockchain services company Ripple told CNBC in an exclusive interview. Brad Garlinghouse CEO, RippleThe Metaco acquisition is expected to expand Ripple's suite of products and allow it to access an attractive clientele that includes Citi and BNP Paribas. "We think Metaco is a perfect fit, from where we're trying to grow our customers today," said Garlinghouse. The SEC has accused Ripple, Garlinghouse and the firm's co-founder Chris Larsen, of breaching securities laws by selling XRP without first registering it with the SEC. The U.S. has also accused Binance, the world's largest crypto exchange, of violating compliance rules to solicit American customers.

☆ Crypto firm Ripple buys Swiss startup as SEC crackdown forces companies to consider overseas moves
▼ + stars: | 2023-05-17 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Ripple CEO Brad Garlinghouse speaks during the Milken Institute Global Conference in Beverly Hills, California, on Oct. 19, 2021. "This is the largest deal we've seen in the last year," Brad Garlinghouse, CEO of Ripple, told CNBC on a call Tuesday. Garlinghouse said last week that the firm will have spent $200 million in total defending itself against the SEC lawsuit. Numerous crypto industry insiders have been calling for a clear regulatory framework from the U.S. Congress to help give companies clarity over how they can operate in a way that's legally sound. WATCH: Ripple will have spent $200 million fighting SEC lawsuit, CEO says

LONDON, May 17 (Reuters) - U.S. crypto firm Ripple has bought Switzerland-based crypto custody firm Metaco for $250 million, in its first major acquisition, Ripple said on Wednesday. Investor interest in crypto assets has cooled following a drop in cryptocurrency prices in 2022 and series of collapses at major crypto firms, including U.S. exchange FTX. Investors have become increasingly cautious about where and how crypto assets are stored, after crypto platforms freezing withdrawals left them facing large losses. Ripple CEO Brad Garlinghouse said he expected increased demand from institutional investors for crypto custody services. More than half of the $250 million acquisition was paid for in cash, and the rest in equity, Ripple said.

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